Small business owners more optimistic about their companies' prospects, surveys show

NEW YORK – Small business owners are getting more optimistic about their companies.

That's the finding of two surveys released Tuesday. The first, conducted in early April by Wells Fargo and Gallup, finds that owners are more upbeat because their companies' finances are improving. The Wells Fargo/Gallup Small Business Index rose seven points to 16 from nine in January and minus-11 in November.

A separate survey by the Kauffman Foundation and LegalZoom finds that 84 percent of entrepreneurs, owners of very young companies, were confident in the first quarter about their companies' profitability in the next year. That's up 1 percentage point from fourth quarter 2012.

While entrepreneurs feel good about their prospects, they have less faith in the U.S. economy. The survey says that's making them pull back on hiring plans.